EA Shareholders Vote Yes on $55 Billion Saudi-Led Buyout Deal

EA shareholders did what everyone predicted. They said yes.

On 22 December 2025, Electronic Arts shareholders approved a jaw-dropping $55 billion takeover led by Saudi Arabia's Public Investment Fund. Over 201 million votes backed the deal. Only 1.9 million opposed. The maths tells you all you need to know about where this was heading.

The deal pegs EA shares at $210 each. That's 25% above where they traded back in September before the buyout news broke. Shareholders will pocket cash whilst EA becomes a private company for the first time in decades. Stock jumped to a 52-week high of $204.39 straight after the vote.

Here's what the ownership structure looks like when (or if) this goes through. The PIF grabs 93.4% control. Silver Lake Partners takes 5.5%. Affinity Partners, the firm run by Jared Kushner (yes, Trump's son-in-law), gets the remaining slice. This setup makes it the largest leveraged buyout in history, bigger than the TXU Energy deal from 2007.

The Big Obstacle: Regulatory Approval

Shareholders clearing the deal means nothing if regulators don't play ball.

US Senators Elizabeth Warren and Richard Blumenthal sent stern letters to Treasury Secretary Scott Bessent in October. They want the Committee on Foreign Investment in the United States to scrutinise this deal hard. National security concerns, access to player data from 700 million users, potential AI influence. The list goes on.

Warren and Blumenthal didn't mince words about Kushner's role either. "What regulator is going to say no to the president's son-in-law?" they wrote. The PIF previously invested $2 billion into Affinity Partners six months after Kushner left his White House adviser role in 2021. The senators reckon Kushner's involvement exists solely to grease the regulatory wheels.

There's also the $20 billion debt EA will carry to finance this buyout. Critics say this burden could force layoffs down the line, even though EA promised no "immediate" job cuts. CWA Canada raised similar concerns about EA's Canadian studios like BioWare, Motive, and EA Vancouver.

What Happens to EA Games?

CEO Andrew Wilson stays put. EA says creative independence remains intact. Values won't change. You've heard this before whenever massive acquisitions happen.

The Saudi PIF already owns stakes in gaming companies worldwide. Nintendo (6.3% after reducing from 7.5% in 2024), Take-Two Interactive, Capcom. They fully own SNK, maker of Fatal Fury and King of Fighters. Gaming investments help Saudi Arabia diversify away from oil dependency. "Sportswashing" say the critics, pointing to Saudi Arabia's human rights record and treatment of journalists, women, and LGBTQ+ individuals.

Some EA employees spoke anonymously to press outlets. One said they're "nervous about potential layoffs". Another stated Andrew Wilson "basically said 'f you' to all women and LGBTQ employees at EA" by approving this deal. The Sims content creators have departed over the buyout news.

The Timeline Ahead

The consortium expects to close this by June 2026 (Q1 of EA's fiscal year 2027). That assumes regulatory approval happens without major roadblocks. If either party backs out, there's a $1 billion termination fee on the table.

Stock currently trades around $204, sitting below the $210 offer price. That gap reflects investor caution about regulatory risks and timing. Markets aren't convinced this is a done deal yet.

For franchise fans wondering about Battlefield 6, EA Sports FC, The Sims, Madden NFL, and Apex Legends? EA insists nothing changes. New titles still launch. Live services continue. Whether that holds true under new ownership remains to be seen.

The shareholder vote was the easy part. Everything hinges on what regulators decide next.